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PremierBank Review

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We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
PremierBank Savings
0.08% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

PremierBank started in 1863 with headquarters in Fort Atkinson, Wisconsin. It owns $424 million in assets as well as $336 million in deposits, ranking it as a medium-size bank. PremierBank lacks premium access to customer service, with no options for live chat or all-day service. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile apps. At a SmartAsset rating of 4.1 out of 5 stars, PremierBank should be solidly in contention for your choice of bank. PremierBank provides customers with a choice of banking products, which include savings accounts, checking accounts, CDs, IRAs, mortgage products and credit cards. PremierBank has a fair savings rate compared to the average savings account. If you're interested in stress-free personal checking, PremierBank offers an option without a maintenance or monthly fee. Obtaining a checking account with no monthly fee, in addition to a savings account with a high interest rate at the same institution is your best option for gaining the most income on your deposits while having convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

4.1/5
National Average: 4.1

The overall rating is a weighted average of rates, fees, service quality and financial health.Read more

Rates

2.9
SmartAsset Average: 3.5

With a savings rate of 0.08%, PremierBank ranks poorly in comparison to other U.S. banks. PremierBank's one-year CD earns at a rate of 0.40%, while its highest-yielding money market account has a rate of 0.35%. Given its below average savings rate, you should think about looking at the competition to open savings accounts.

How PremierBank's Savings Rates Compare

PremierBank Savings 0.08 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

PremierBank typically has extremely low fees in comparison to other U.S. banks. With no monthly fee, PremierBank is ideal for those who want a simple banking experience. Also, at $25.00, PremierBank has a noticeably lower overdraft fee compared to the average U.S. overdraft fee. PremierBank doesn't reimburse out-of-network ATM charges, which means you will need to search for a PremierBank ATM or pay the fee.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee $25.00 National Average: $35.00
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Service Quality

3.8
SmartAsset Average: 3.7

PremierBank is a brick-and-mortar bank, with 10 total branches in Wisconsin. With mobile and web apps, PremierBank makes mobile banking convenient, even on the go. PremierBank's online and mobile banking platforms receive fair feedback from customers. With 33 ratings on both iOS and Android platforms, the PremierBank mobile app is scored at 3.7 out of 5 (compared to the national average of 3.8). You can access PremierBank's app to control your bank accounts by reviewing account balances, transferring money and reaching customer service. PremierBank receives a superb consumer satisfaction rating due to comparatively few complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Overall Mobile Rating 3.7/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.7
SmartAsset Average: 4.8

PremierBank ranks as a medium-size bank owning $424 million in assets as well as $336 million in deposits. It has a strong Texas Ratio of 6.57%, denoting a tiny possibility of failure. Additionally, PremierBank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

6.57%
High Risk 75% 50% 20% 10% Low Risk

The Texas Ratio, a measure of a "bad assets" against available capital, can provide an early warning sign of bank failure. A low ratio indicates smaller chance of failure; a higher ratio suggests greater risk.

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Compare PremierBank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.08% APY $50
Checking Account 0.04% APY $1000
Certificates of Deposit
  • 12 Month: 0.40% APY
  • 24 Month: 0.70% APY
  • 36 Month: 1.00% APY
  • 48 Month: 1.21% APY
$300 for all terms
Money Market Accounts 0.25% APY 0.35% APY $10000 $15000

PremierBank has several deposit products like savings accounts, checking accounts and CDs that provide you with many options to manage your money. PremierBank does not have the best savings rate, which means you should think about taking a look elsewhere for banks that deliver more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. PremierBank's CD rates are fair compared to other U.S. banks.

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Find a PremierBank Near Me

PremierBank has 10 branches in the U.S.

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